I thinks it's you guys that are not understanding this, and keep
lumping the CONRACT (redevelopers agreement) together with the PLAN
(zoning).
I understand and agree that the trustee can hold/sell the CONTRACT
and get the best price.
The trustee has no juresdiction over the PLAN (zoning), nor can the
trustee modify the cintract in violation of the PLAN (zoning).
By your (logic/conlusions/interpretation) there would kaos around the
country as trustees with no city planning credentials, went around
changing zoning just to get a better price for a CONTRACT. No
planning board review, no public input, no ordinance changing the
zoning.
Bang, you wake up on day and a strip mall is built next to your home
where your neighbor's home was. No notice, no process, Oh, thats OK a
bankrupcty trustee got a better price by selling the property as
commercial.
Come on, think this through, I gave you a hog farm scenerio. Can the
trustee dictate that I be allowed to operate a hog farm in violation
if local zoning that says only residential is permitted just because
I have a contract to purchase your property and that's what I want to
do.
Seperate the CONTRACT from the PLAN (zoning) in your mind, they are
seperate entities.
Werner
--- In AsburyPark@yahoogroups.com, "bluebishop82" <[EMAIL PROTECTED]>
wrote:
>
> That's absolutely expected Werner. Dan is right about this. The
> Trustee is trying to sell off an asset for the benefit of the
> creditors. Remember - the Trustee OWNS the redevelopment rights at
> the point in time you are referencing, not Carabetta or the City.
> If the MOU induces the sale so he can get Millions for his asset
and
> wrap up a 10 year old case, he has the power to do it, because he
is
> operating under the jurisdiction of the Federal Court, which pre-
> empts the state laws to the contray (this is the part you just
don't
> want to accept).
>
> I encourage you to go read up on the pre-emption doctrine. Post
> again after you are familiar with it, because I don't think you are
> going to understand what Dan is saying until you do.
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